Gas prices are on the rise, and if you're a business owner with a fleet of vehicles or just looking to maximize your rewards, a business credit card for gas can help you save money and manage your expenses more efficiently. In this guide, we'll break down the best business credit cards for gas, explain how they work, and share some tips to help you make the most out of these powerful financial tools. Grab a coffee and let's dive in!
Business Credit Cards For Gas Table of Contents
What are Business Credit Cards for Gas?
A business credit card for gas is specifically designed for businesses with fuel expenses, offering rewards and cashback on gasoline purchases. These cards often come with a range of additional benefits, such as travel rewards, discounts on business-related expenses, and extended warranties on purchases.
Why You Need a Business Credit Card for Gas
- Save money on fuel expenses: With rewards and cashback specific to gasoline purchases, a business credit card for gas can help you save money on one of your largest monthly expenses.
- Track and manage expenses: These cards make it easy to monitor fuel expenses and track employee spending, streamlining your business expense management process.
- Improve your credit score: By responsibly using a business credit card, you can build your business credit score, which can improve your chances of securing better loan terms and lower interest rates.
- Access to additional perks: Many business credit cards also come with perks such as travel rewards, extended warranty coverage, and discounts on business supplies and services.
Top Business Credit Cards for Gas
1. The Chase Ink Business Cash Credit Card
The Chase Ink Business Cash credit card is a top choice for gas rewards with a generous cashback rate. You can earn 2% cashback on the first $25,000 spent annually on combined gas station and restaurant purchases. Additionally, you can earn 5% cashback on office supply store purchases and phone, cable, and internet services, as well as 1% cash back on all other purchases.
2. The American Express Blue Business Cash Card
The American Express Blue Business Cash Card offers a simple and rewarding cashback program. Earn 2% cashback on all eligible purchases, including gas, on up to $50,000 per calendar year, then 1% after that. This card also comes with no annual fee and the flexibility to spend above your credit limit with Expanded Buying Power.
3. The Bank of America Business Advantage Customized Cash Rewards Mastercard
This card offers a generous 3% cashback on your choice of one of six categories, including gas stations. Earn 2% cashback on dining and an unlimited 1% cashback on all other purchases. Plus, there's no annual fee and a welcome bonus for new cardholders.
Business Credit Cards For Gas Example:
Imagine you're a small business owner with five vehicles in your fleet. Your monthly gas expenses are approximately $3,000. By using the Bank of America Business Advantage Customized Cash Rewards Mastercard, you can earn 3% cashback on your fuel expenses, resulting in savings of $90 per month, or $1,080 annually. This substantial saving can be reinvested into your business or applied toward other necessary expenses.
Now you know why a business credit card for gas can be a game-changer in managing your fuel expenses and growing your business. As you explore your options, consider your business' specific needs, spending habits, and the additional perks each card offers. Don't forget to share this guide with fellow entrepreneurs, and make sure to explore more insightful guides on Flik Eco for all your personal finance and investing needs.
